Estimates of selected factors with material bearing on LOTOS Group’s consolidated performance in Q2 2016
Report no. 35/20162016-07-29

The Management Board of Grupa LOTOS S.A. (the “Company”) publishes its estimates of selected factors with a bearing on the LOTOS Group’s consolidated performance.

The Company estimates that in Q2 2016 theoretical inventory write-downs computed for LIFO-based EBIT were down by approximately PLN 0.3bn (partial reversal of a theoretical write-down recognised for LIFO-based EBIT as at December 31st 2015).

As a result, the estimated LIFO effect will be close to nil (difference between the cost of inventory measured in accordance with the IFRSs and the cost of inventory measured based on the LIFO methodology − for more details see Current Report No. 29/2006).

The data and information presented in this report are estimates only and may differ from data which will be published in the H1 2016 consolidated financial statements of the LOTOS Group.

The legal basis for the submission of this current report is Art. 17(1) of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC.